Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>Mon, 27 Jul 2015 14:30:00 +1000http://www.proactiveinvestors.com.au/companies/news/63666/this-stock-is-up-266-today-63666.htmlAustralian Pacific Coal's shares in pre-openhttp://www.proactiveinvestors.com.au/companies/news/63664/australian-pacific-coals-shares-in-pre-open-63664.html
Australian Pacific Coal (ASX:AQC) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Australian Pacific requested the halt as, '...concern within management of the company that there may currently be uninformed trading in the company’s shares pending a forthcoming announcement.'

This morning the shares opened at $0.004, before jumping 250% to $0.01.

The halt will remain in place until the opening of trade on Wednesday 29th July 2015, or earlier if an announcement is made to the market.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

The offer of 73,333,333 shares priced at $0.15 each is underwritten by Blue Ocean Equities.

Oversubscriptions of up to a further 6,666,667 shares to raise up to a further $1 million may be accepted. This is not underwritten.

Acquiring LiveTiles, which developed a proprietary software tool that operates together with Microsoft’s cloud collaboration platforms, represents the company’s transition to the cloud sector.

This tool enables g businesses to rapidly build and deploy modern business solutions including intranets and extranets to their operations.

Upon completion of the acquisition and re-listing on ASX, the company will have a market capitalisation at the offer issue price of $55.3 million (assuming that no oversubscriptions are accepted).

The company’s main objectives will then be:

- Pursue LiveTiles sales and marketing strategy which is focused on increasing penetration with existing customers and pursuing new customers;- Grow the LiveTiles direct sales and partner sales team in the short term;- Fund the development of LiveTiles’ products and potential other products, services and investments or other third party ventures as determined by the directors from time to time;- Investigate the development of potential strategic partnerships with third parties;- Meet the ongoing costs of the company and its subsidiaries; and- Pay the costs of the matters proposed in the acquisition and the offer.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

In April, PT Cakra Mineral Tbk and Cokal announced a bid agreement under which CKRA will make a conditional off market takeover bid for all of the shares in Cokal at 10.327 CKRA Shares for every one Cokal share, or a cash consideration of $0.16 per Cokal share.

The raising does not change the offer price of the conditional off market takeover bid.

Cedrus along with Platinum Partners has provide Cokal with a non- binding term sheet to Cokal in relation to a US$110 million project finance facility for the BBM project as announced on 9 February 2015.

The Placement will be in two tranches and completed within Cokal’s placement capacity and accordingly no shareholder approval will be sought.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>Fri, 29 May 2015 13:00:00 +1000http://www.proactiveinvestors.com.au/companies/news/62659/cockatoo-coal-minera-gold-have-both-doubled-in-price-today-62659.htmlCokal Limited to divulge more on proposed takeover offerhttp://www.proactiveinvestors.com.au/companies/news/62632/cokal-limited-to-divulge-more-on-proposed-takeover-offer-62632.html
Cokal Limited (ASX:CKA) has been granted a trading halt this morning by the ASX, pending an update on the proposed takeover offer by PT Cakra Mineral Tbk (CKRA) (IDX:CKRA).

At the end of April, Cokal and CKRA entered into a Bid Implementation Agreement under which CKRA will make a conditional off market takeover bid for all of the shares in Cokal.

Under the offer, Cokal shareholders will be given the choice of scrip or cash consideration, comprising either:

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>Wed, 27 May 2015 12:30:00 +1000http://www.proactiveinvestors.com.au/companies/news/62608/cockatoo-coal-leads-the-asx-gainers-at-midday-62608.htmlGalilee Energy starts production testing of Texas wellhttp://www.proactiveinvestors.com.au/companies/news/62340/galilee-energy-starts-production-testing-of-texas-well-62340.html
Galilee Energy (ASX:GLL) has started production testing of the Hoffer B1 well in Lavaca County, Texas, where an interval of about 200 feet has been identified for potential perforation and testing.

Up to 10 tests may be required to fully evaluate the potential of the well.

Galilee has a 35% working interest in the well, reducing to 28% after payout.

Open hole geophysical logs in the upper portion of the well are interpreted to demonstrate the presence of reservoir quality sandstones. These zones have the potential in their own right to deliver gas volumes consistent with pre-drill expectations.

In the lower zones, the cased hole logging suite provides less quantitative information on reservoir quality, but the identified zones have been correlated with mudlog gas shows to define gross sandstones which warrant testing, albeit with a lower level of expectation.

Importantly most of the zones identified for testing have seismic signatures which indicate extension across a broad area, potentially allowing for multiple well development.

This testing process is expected to take a number of weeks and results will be provided at the conclusion of the testing program.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>Wed, 13 May 2015 16:20:00 +1000http://www.proactiveinvestors.com.au/companies/news/62340/galilee-energy-starts-production-testing-of-texas-well-62340.htmlAus Asia Minerals to update on board compositionhttp://www.proactiveinvestors.com.au/companies/news/62274/aus-asia-minerals-to-update-on-board-composition-62274.html
Indonesian-focussed Aus Asia Minerals (ASX:AQJ) has been granted a trading pending the composition of the board.

The halt will last until the earlier of the opening of trade on Wednesday 13th May 2015, or when an announcement is made to the market.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>Mon, 11 May 2015 13:30:00 +1000http://www.proactiveinvestors.com.au/companies/news/62274/aus-asia-minerals-to-update-on-board-composition-62274.htmlAtrum Coal to update on Groundhog Anthracite Projecthttp://www.proactiveinvestors.com.au/companies/news/62101/atrum-coal-to-update-on-groundhog-anthracite-project-62101.html
Atrum Coal (ASX:ATU) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Atrum requested the halt pending details in relation to an equipment supply and financing package to accelerate the development of the company’s Groundhog North Underground Mine, part of the flagship Groundhog Anthracite Project.

The project is located in British Columbia, Canada,

The halt will last until the opening of trade on Tuesday 5th May 2015, or earlier if an announcement is made to the market.

- Post-tax NPV10 increased 62% from A$1,040M to A$1,685M and life of mine free cash flow of A$11,159M.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>Fri, 01 May 2015 16:30:00 +1000http://www.proactiveinvestors.com.au/companies/news/62101/atrum-coal-to-update-on-groundhog-anthracite-project-62101.htmlCokal to update on takeover offer by PT Cakra Mineral Tbkhttp://www.proactiveinvestors.com.au/companies/news/61995/cokal-to-update-on-takeover-offer-by-pt-cakra-mineral-tbk-61995.html
Cokal (ASX:CKA) has been granted a trading halt by the ASX pending an announcement in relation to the proposed takeover by PT Cakra Mineral Tbk (IDX:CKRA).

The metallurgical coal group received an unsolicited non-binding and incomplete proposal in relation to a conditional off market takeover bid by PT Cakra Mineral Tbk in March 2015.

Cokal has since then entered into detailed discussion with CKRA, and in early April the company said discussions have been progressing but have highlighted the need to jointly manage the process on both the Australian and Indonesian Stock Exchanges and under two company regulatory regimes.

The halt will last until the opening of trade on Wednesday 29th April 2015, or earlier if an announcement is made to the market.

Proposed transaction

CKRA propose to acquire all of the issued securities of Cokal pursuant to a conditional off market takeover bid on the following terms:

CKRA propose to offer cash or CKRA shares for each Cokal share on issue.

The permit is prospective for high quality sub-bituminous coal, providing the company with expansion opportunities.

It also underpins Bathurst’s long term supply strategy to the south island dairy processing industry under terms which will not impact on the company’s cash reserves.

On March 13, 2013, the company amended to the payment terms for the acquisition whereby an amount of NZ$13.25 million (AUD$10.6 million) fell due on settlement on 31 December 2015.

Under the latest amendment, instead of making this payment, the balance of the purchase price will be satisfied by an ongoing deferred consideration being 5% of gross sales revenue at mine gate on all coal produced by the company in the Ohai area.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

The halt will last until the earlier of the announcement being made or the commencement of trade on Tuesday, 3rd March 2015.

Earlier this month, the company announced a non-binding terms sheet from Cedrus International and Platinum Partners in relation to a US$110 million project finance facility for the 2 million tonne per annum Bumi Barito Mineral Project.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

]]>Fri, 27 Feb 2015 16:00:00 +1100http://www.proactiveinvestors.com.au/companies/news/60973/cokal-limited-to-reveal-potential-takeover-proposal-60973.htmlJameson Resources banks exploration tax credit in Canadahttp://www.proactiveinvestors.com.au/companies/news/60889/jameson-resources-banks-exploration-tax-credit-in-canada-60889.html
Jameson Resources (ASX:JAL) has received an exploration tax credit of C$548,522.63 (A$560,768.27) from the Canadian Government in relation to exploration expenditure on the Crown Mountain coking coal project in British Columbia.

A further C$31,018 under the British Columbia Mining Exploration Tax Credit is being processed.

Funds received will be used to continue advancing the Crown Mountain Environmental Assessment and for general corporate purposes.

The Crown Mountain Coal Project is located in the Elk Valley Coalfield of Canada, which offers compelling global opportunities for development of a coking coal project.

- Projected plant yields fall within the 40% to 60% range estimated in the PEA: approximately 59% in the North Block, 55% in the East Block, and 48% in the South Block, for a propertywide average of 52%.

- Clean strip ratio ranges from 7.05 to 9.79:1 during the first 5 years, averaging 10.23:1 over the mine life.

- Average production level will be within the upper half of the PEA’s estimated 1.3 – 1.9 million clean tonnes per annum.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

The gas pay in the Middle Midcox sandstones was identified in a number of sandstone units.

Subject to successful flow testing, this pay alone is expected to be sufficient to achieve a commercial success from the well at current commodity pricing, and materially enhances the prospectivity of Galilee’s other prospects in the area.

Logs also confirmed a confirmed a potential 40 feet pay zone in the shallower Yegua Formation. This zone was logged through casing and further evaluation will be necessary to determine the commercial potential of this zone in the coming months.

Mud logging while drilling identified two additional shows of significance in the Lower Wilcox below 11,600 feet, which have the potential to add to the interpreted net pay. Unfortunately, logging tools were unable to be run over these zones due to the tool sticking during logging operations.

A production liner has now been run to a depth of 12,700 feet to allow drilling of the primary target in the basal Lower Wilcox. This should allow open hole logging of one of the previously identified Lower Wilcox shows, with the other to be evaluated using cased hole logs.

Galilee has a 35% working interest in the well.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>Mon, 16 Feb 2015 08:00:00 +1100http://www.proactiveinvestors.com.au/companies/news/60699/cockatoo-coal-fortescue-among-fridays-leading-volume-stocks-60699.htmlJameson Resources to receive exploration tax refund in British Columbiahttp://www.proactiveinvestors.com.au/companies/news/60359/jameson-resources-to-receive-exploration-tax-refund-in-british-columbia-60359.html
Jameson Resources (ASX:JAL) will receive an exploration tax refund of C$0.5 million from the British Columbia government in relation to expenditure on the Crown Mountain Coking Coal Project.

The British Columbia tax code provides for a partial recoupment of exploration funds and the amount to be refunded for expenditure during the 2012 and 2013 fiscal years was determined after a lengthy review and audit by the Canada Revenue Agency.

Proceeds will strengthen Jameson’s financial position as it continues to pursue the permitting and development of Crown Mountain.

The Crown Mountain Coal Project is located in the Elk Valley Coalfield of Canada, which offers compelling global opportunities for development of a coking coal project.

- Projected plant yields fall within the 40% to 60% range estimated in the PEA: approximately 59% in the North Block, 55% in the East Block, and 48% in the South Block, for a propertywide average of 52%.

- Clean strip ratio ranges from 7.05 to 9.79:1 during the first 5 years, averaging 10.23:1 over the mine life.

- Average production level will be within the upper half of the PEA’s estimated 1.3 – 1.9 million clean tonnes per annum.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

The company will now place the shortfall of 341,700,368 shares to the underwriter, Azure Projects.

Proceeds will be used to provide additional working capital for the company together with funding to establish an initial box cut and related infrastructure to allow it to commence the mining of ROM coal.

Ikwezi is focused on the acquisition, exploration and development of coal projects in South Africa.

The most advanced of these is the Ntendeka Colliery project, which involves the mining of an opencast resource progressing to underground coal.

It consists of two coal seams, top and bottom, with the top seam more fully developed and predominantly mineable.

Ntendeka Colliery has a JORC resource of 294MT, of which 50Mt is Measured, 36Mt is at the Indicated level and 208Mt is Inferred.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>Wed, 21 Jan 2015 16:00:00 +1100http://www.proactiveinvestors.com.au/companies/news/60233/ikwezi-mining-raises-2m-under-right-issue-placing-underwritten-shortfall-60233.htmlWavenet International raising working capitalhttp://www.proactiveinvestors.com.au/companies/news/60173/wavenet-international-raising-working-capital-60173.html
Wavenet International (ASX:WAL) is raising up to $554,776 through a 1 for 1 rights issue for working capital and its taxation liabilities.

The offer of shares priced at $0.0 each is 50% underwritten by Westwall Holdings

Wavenet is carrying out exploration for coal in the Gayndah area and Exploration Permit EPC2265 in Queensland.

11 potential drill sites have been identified for exploration of the Surat Basin lithologies.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Ebenezer has current Probable Ore Reserves of 13.7 million tonnes and JORC Resources of 308.2 million tonnes of high grade thermal coal.

It is currently under care and maintenance.

Coalbank is paying A$10 million to acquire the mine and will grant Zedemar royalty payments of $1 per saleable tonne of coal.

The Royalty Fee payable for ML 4712 and MDL 172 collectively is capped at a maximum of 20 million tonnes.

Conditions of the acquisition are:

- The parties entering into formal asset sale and land sale agreements;- Coalbank obtaining finance to fund the Project;- Coalbank obtaining Foreign Investment Review Board (FIRB) approval for the purchase of the Project;- Obtaining any third party consents or releases; and- The transfer of all leases from Zedemar to Coalbank.

Coalbank had $1.7 million in cash and deposits at call as at 30th September 2014.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

]]>Fri, 09 Jan 2015 12:00:00 +1100http://www.proactiveinvestors.com.au/companies/news/59994/coalbank-limited-advances-acquisition-of-queensland-coal-mine-59994.htmlAustpac Resources zones in on funding from international company for Newcastle planthttp://www.proactiveinvestors.com.au/companies/news/59237/austpac-resources-zones-in-on-funding-from-international-company-for-newcastle-plant-59237.html
Sydney based Austpac (ASX:APG) looks set to buck the odds and win project funding to complete an Iron Recovery plant in Newcastle.

The plant will recycle waste chloride solutions and iron oxides produced by steel making to recover hydrochloric acid and iron metal.

Part of the funding is believed to be from a large international company, sufficient to complete construction, installation, commissioning and production at Newcastle Iron Recovery Plant.

Due diligence was undertaken and the technologies are now being assessed for worldwide applications.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.